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ANZ decreases variable home lending rates

ANZ today announced a decrease in variable home lending rates.

The ANZ Standard Variable Home Loan interest rate will decrease from 7.60% p.a. to 7.35% p.a. for new applications received from Friday 13 June 2003 and for existing customers from Friday 4 July 2003.

In addition, ANZ's Easy Start introductory twelve-month variable rate will decrease from 6.10% p.a. to 5.85% p.a. for new customers. For existing ANZ Easy Start customers the current rate will also decrease by 0.25% p.a. The ANZ Money Saver variable rate will decrease from 7.00% p.a. to 6.75% p.a. These changes are effective for new applications received from Friday 13 June 2003 and for existing customers from Friday 4 July 2003.

The ANZ FlexiPlus home loan interest rate will decrease from 7.60% p.a. to 7.35% p.a. for both new and existing customers from Friday 4 July 2003.

ANZ also announced the launch of a new 18-month fixed rate special of 5.99% p.a., effective from Friday 13 June 2003. ANZ now offers two fixed rates at 5.99% p.a. - the 10-month and 18-month fixed rates. "We are pleased to offer these lower home lending rates, made possible by lower wholesale interest rates following the Reserve Bank's rate cuts in recent weeks," said ANZ's General Manager Mortgages, Mr David Hamilton.

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